Recording Bounced Check
Wm...
tcnw81 at tarrcity.demon.co.uk
Thu Nov 12 20:13:40 EST 2015
Wed, 11 Nov 2015 17:15:33
<CO2PR0801MB549FAF7E0A4F383485530D0C9130 at CO2PR0801MB549.namprd08.prod.out
look.com>
Mark Seeba <mseeba at streamwrite.com> wrote...
>Thank you. This was very helpful.
For completeness I think you could also use, from the menus
Transaction / Void transaction <- acting on the payment in a bank
account for e.g.
or
Transaction / Add Reversing Transaction <- ditto
but I'm not sure how these interact with the Business functions and
since this seems to be a one-off or at very least occasional payment
misbehaviour maybe it is best to understand the manual ways and
understand them first, that way you have choices if you come across a
similar situation again and if the client argues you can state your side
a bit better.
>Mark Seeba
>MCSE: Communication
>Streamwrite
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>-----Original Message-----
>From: gnucash-user
>[mailto:gnucash-user-bounces+mseeba=streamwrite.com at gnucash.org] On
>Behalf Of Wm...
>Sent: Tuesday, November 10, 2015 12:31 PM
>To: gnucash-user at lists.gnucash.org
>Subject: Re: Recording Bounced Check
>
>Tue, 10 Nov 2015 16:33:26
><SN2PR0801MB56088CB1B10A8653F8FD3BBC9140 at SN2PR0801MB560.namprd08.prod.out
>look.com>
>Mark Seeba <mseeba at streamwrite.com> wrote...
>
>>I have been using GnuCash for years and have never had a bounced check
>>before! How do I record the bounced check properly?
>
>One way is
>a) find the bounced payment in the AR account and delete it
>b) add a new invoice to the account for any charges you want to add,
>this might be the returned check fee plus a handling charge if allowed
>in your jurisdiction
>
>Inv 100
>Inv 10 charges
>Bal=110
>
>Or
>a) leave the bounced cheque as is
>b) add a new invoice; the first line being a minus reversing the
>bounced payment; the second the bank's charges passed on, etc
>
>Inv 100
>Pay -100
>Inv 110
>Bal=110
>
>>What I would like to do is record it as a negative against the original
>>invoice so the original payment stays and add another new line for the
>>returned check fee and send the invoice back out.
>
>The original invoice stays the same, what you'd be sending out is a
>statement of account aka Customer Report stuff
>
>>Does this make sense? If so, how do I do this? If not, what should I do?
>
>If you keep an eye on how long moneys have been owed to you notice that
>leaving the bounced check on record means the original invoice is
>marked as paid. So if you re-invoice you should produce two invoices.
>One at the original date and amount and a second at the date you
>incurred the bank charges for just that amount.
>
>Inv 100
>Pay -100
>Inv 100 re-inv orig date
>Inv 10 charges recent date
>Bal=110
>
>Also bear in mind that customer relations come into this too. Was it
>accidental that the chq bounced? Is the value of the bounce
>insignificant considering on-going business, etc.
>
>Should give you something to work on, hopefully.
>
>--
>Wm...
>
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--
Wm...
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